Saturday, July 15, 2017

Century Bank acquires Sagarmatha Finance

Century Commercial Bank has acquired Sagarmatha Finance.
Finance Minister Gyanendra Bahadur Karki inaugurated the joint operation of the bank today. After the acquisition, the bank has Rs 5.46 billion issued capital with some 66 branch networks. The bank is also preparing to acquire Alpine Development Bank and Seti Finance in the near future to increase the paid up capital. The central bank has made it mandatory for commercial banks to have Rs 8 billion paid up capital by the end of the current fiscal year.